The National Bank of Kazakhstan announced today that a pilot project for KZTE has begun within its regulatory sandbox. This initiative brings the country’s national currency to the blockchain, making the tenge a real asset in digital form and providing new opportunities for investors, developers, and financial institutions.
The stablecoin is issued by Intebix, a licensed digital asset exchange at the Astana International Financial Centre. This happened in partnership with Solana, Mastercard, and Eurasian Bank. This collaboration highlights Kazakhstan’s ambition to modernize its financial system while joining the growing list of nations experimenting with regulated stablecoins.
Seamless Payments and Crypto Integration
KZTE allows for smooth exchange between crypto assets and the tenge, enabling payments and settlements via crypto cards. This provides both retail users and institutions with a practical tool to interact with digital assets while maintaining exposure to Kazakhstan’s national currency. By connecting the tenge to blockchain, the project reduces friction in cross-border payments and introduces a new level of transparency and auditability to the country’s financial ecosystem.
🚀 Kazakhstan launches its first tenge-backed stablecoin on Solana!
Today, the The National Bank of Kazakhstan @nationalbank_kz announced the start of a pilot project to issue a tenge-backed stablecoin (KZTE) within its regulatory sandbox.
The issuer is @Intebix (a licensed… pic.twitter.com/XQXlLtbBkE— Superteam Kazakhstan (@SuperteamKZ) September 23, 2025
This move follows a global trend where central banks and regulated institutions explore stablecoins as a bridge between traditional finance and digital finance. For instance, countries like Singapore and the United Arab Emirates have launched pilot programs for their digital currencies, demonstrating growing confidence in blockchain technology for mainstream finance. KZTE positions Kazakhstan alongside these early adopters, showing its commitment to modernizing payments and enhancing financial inclusivity.
A Step Forward for Kazakhstan’s Digital Ecosystem
The launch of KZTE is part of the National Bank’s broader strategy to grow the country’s digital asset ecosystem. By supporting licensed issuers and integrating global partners like Mastercard. Kazakhstan is building infrastructure that can attract both local and international investment. The project also opens doors for DeFi applications, tokenized assets, and blockchain-based payments within the country, potentially stimulating innovation and economic growth. Here is an example of how the web3 ecosystem is growing in Kazakhstan:
August was a month of firsts for us – from the first Solana meetup in Almaty to the launch of our education program with Astana Hub.
We also awarded 10+ grants worth $60,000 to early-stage Solana builders.
This is just the beginning – Kazakhstan is stepping onto the global… pic.twitter.com/VMPELpbz7Q— Superteam Kazakhstan (@SuperteamKZ) September 17, 2025
As the pilot progresses, developers and financial institutions will have the chance to explore new use cases for KZTE. From cross-border remittances to programmable finance. This initiative is a clear signal that Kazakhstan is serious about embracing blockchain technology. Also, providing its citizens with modern, efficient financial tools.
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